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Entity Wide Disclosures (Tables) | 3 Months Ended
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Mar. 31, 2026
Entity Wide Disclosures [Abstract] |
Summary of Revenue by Major Source | The following table disaggregates the Company’s revenue by major source (in thousands):
|  | Three Months Ended March 31, |
|  | 2026 |  | 2025 |
Therapeutic Area |  |  |  |  |
Metabolic |  | $ | 237,558 |  |  | $ | 148,015 |  |
Oncology |  | 201,239 |  |  | 170,476 |  |
Other |  | 93,318 |  |  | 95,836 |  |
Central Nervous System |  | 80,207 |  |  | 54,901 |  |
Cardiology |  | 56,261 |  |  | 58,279 |  |
AVAI |  | 38,021 |  |  | 31,063 |  |
Total revenue |  | $ | 706,604 |  |  | $ | 558,570 |  |
Schedule of Segment Reporting Information, by Segment | Information about the one reportable segment, significant segment expenses and a reconciliation to condensed consolidated net income is as follows (in thousands):
|  | Three Months Ended March 31,
|  | 2026 |  | 2025
Revenue, net |  | $ | 706,604 |  |  | $ | 558,570 |
Operating expenses: |  |  |  |
Direct service costs, excluding depreciation and amortization - Employee compensation |  | 164,603 |  |  | 143,927 |
Direct service costs, excluding depreciation and amortization - Other segment items (a) |  | 33,671 |  |  | 33,889 |
Reimbursed out-of-pocket expenses |  | 312,004 |  |  | 202,404 |
Total direct costs |  | 510,278 |  |  | 380,220 |
Selling, general and administrative |  | 47,917 |  |  | 57,897 |
Depreciation |  | 6,751 |  |  | 6,694 |
Amortization |  | 155 |  |  | 236 |
Total operating expenses |  | 565,101 |  |  | 445,047 |
Income from operations |  | 141,503 |  |  | 113,523 |
Other income, net: |  |  |  |
Miscellaneous income (expense), net |  | 971 |  |  | (1,816) |
Interest income, net |  | 5,117 |  |  | 6,463 |
Total other income, net |  | 6,088 |  |  | 4,647 |
Income before income taxes |  | 147,591 |  |  | 118,170 |
Income tax provision |  | 23,721 |  |  | 3,575 |
Segment net income |  | $ | 123,870 |  |  | $ | 114,595 |
Reconciliation of profit or loss |  |  |  |
Adjustments and reconciling items |  | — |  |  | — |
Condensed consolidated net income |  | $ | 123,870 |  |  | $ | 114,595 |
(a) Direct service costs, excluding depreciation and amortization - Other segment items includes costs related to inventory, leases, project subcontractors and other direct service costs.

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- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-5 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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